Medicaid boosts Centene Q3, but medical loss ratio up

The payer also said its $17 billion acquisition of WellCare may close sooner than expected.

CenteneÂ grew its membership to 15.3 million members, an increase of about 884,000 covered lives, or 6%, from the third quarter of 2018.

The growth came from the company's health insurance exchange business and expansions and new programs in states including Arkansas,Â Illinois,Â Iowa andÂ New Mexico.

The gains were partially offset by the health insurer fee moratorium in 2019, however, the company said.

The St. Louis-based insurer, which is heavily focused in government sponsored health insurance programs,Â reported net income of $95 million on revenue of nearly $19 billion for the third quarter, a 17% increase from the prior-year period.

Still, the company has noted a continued increase in MLR year-over-year but also sequentially from the second quarter of this year.